At closing bell, the 225-issue Nikkei Stock Average index inclined by 101.24 points, or 0.37%, to 27,257.38. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 3.62 points, or 0.19%, to 1,905.06.
Utilities were up, with Tokyo Electric Power Company gaining 2.7% while Tokyo Gas Co added 2.4%.
Credit Saison Co declined 7.1%, after it emerged that City Index Eleventh, a fund backed by activist investor Yoshiaki Murakami, had reduced its holdings in the credit services firm from 5.06% to 3.98%.
Stocks in Apple suppliers Murata Manufacturing Co, Ibiden Co, and TDK Corp all fell after a report that the U.S. tech giant is cutting iPhone 14 Plus orders weeks after the new model went on sale.
CURRENCY NEWS: The dollar hit yet another 32-year high near 149.50 yen in Tokyo trading on Wednesday, lifted by buying stemming from rising U.S. long-term interest rates. At 5 p.m., the dollar stood at 149.34-34 yen, up from 148.96-96 yen at the same time Tuesday.
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